Green Energy Corp and Magpie TI Merge to Further Leadership Position In Smart Grid Transformation

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Green Energy Corp to Provide World-class Industry Expertise, Software and Services for Utilities, Communication and Smart Energy Companies.

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Green Energy Corp (GEC), leading the global transformation of electric grids, and Magpie TI, a premier provider of software engineering services, announce the completion of a corporate merger effective today. The merged company, operating as Green Energy Corp and headquartered in Denver, Colorado, leverages world-class industry expertise and software engineering skills to provide software and services for utilities, communication and smart energy companies.

The merger produces an established company with a strong track record of financial performance, long-term customer relationships, proven products and services, and mature business infrastructure. GEC will continue to grow its profitable services business, including the delivery of software engineering and energy consulting services. In parallel, the company will accelerate the delivery of its Total Grid Management™ (TGM) System, a suite of software and services to successfully transform operations IT systems into the smart grid; and the GEC Green Bus™ platform, the only open source, open API, open standard solution that supports interoperability of legacy and new applications for smart grid implementations.

GEC will also continue its leadership role, directed by Dan Gregory, GEC Founder and Chairman, in establishing an internationally sponsored energy plan for emerging nations that includes the reconstruction of Haiti’s energy infrastructure. Mr. Gregory has authored the Global Energy Model™ (GEM) which incorporates GEC solutions to establish open, sustainable, smart infrastructures and promote economic growth for energy-impoverished nations. Mr. Gregory is also a member of the Clinton Global Initiative, serves on the Colorado Governor’s Smart Grid Task Force, and chairs the Industry Advisory Board for the National Science Foundation FREEDM (Future Renewable Electric Energy Delivery & Management) Center in North Carolina.

The newly formed GEC executive team, including Margaret A. Burd, CEO Magpie TI and Peter J. Gregory, CEO Green Energy, anticipates a seamless integration of two organizations with highly compatible cultures, business model and capabilities.

“The merger combines the strengths of both companies to deliver an organization that is significantly greater than the sum of its parts,” says Peter Gregory. “We are already moving to execute on a revised business plan, intended to ramp revenue, growth and profitability very aggressively.”

Ms. Burd will manage the combined technical teams to lead product development, engineering and service delivery in her role as Chief Operating Officer. “The merger allows us to build upon Magpie’s tradition of quality, on-time delivery and long-lasting customer relationships,” says Ms. Burd. “By combining, we instantly enhance the company’s value as we engineer GEC software using the very skills that our mutual customers have come to rely on.”

Elaine S. Pelletier, previously Magpie Vice President Sales, completes the Executive team by assuming the position of Chief Commercial Officer to direct the company’s business strategy, sales, marketing and business development to deliver GEC solutions in existing and new markets. The management leadership team includes key resources from both companies who have operated in close partnership throughout 2010. Corporate offices will be consolidated at the Magpie location in Denver, Colorado while engineering divisions in Raleigh, NC and Durango, CO will remain intact.

About Green Energy Corp
Green Energy Corp (GEC) is a technology company that provides software engineering services to communications, utilities and energy companies and delivers software products to enable the smart grid of the future. Our team includes senior business leaders and top industry experts with deep experience managing technology companies and building energy and communications solutions. Our Total Grid Management™ (TGM) System is a full suite of software and services that allows utilities to successfully transform their operations IT systems into the smart grid. The GEC Green Bus™ platform is the only open source solution that supports interoperability of legacy and new applications. Because we deliver our solutions via an open source platform and cloud computing architecture, our customers are enabled to meet critical business imperatives for compliance, cost efficiency, security and renewable resource integration.

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Emily Harrington
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